Be an Employer or an Employee?

[jdab]

Here's a background of what I was thinking before I started this thread. I was browsing through this section of the forum and I came across this thread.. ("may nalugi na ba sa inyo sa negosyo?"). Some people there shared their unfortunate experences in having their own business. Although there are a lot of factors that should be considered, it is generally hard to start a new business nowadays.

I'm in my early 20's and have a regular office job that earns me a decent amount (30-50K a month). Thinking ahead, I want to settle down when I reach the age of 28-30 but it's a pre-requisite that I must have my own business (that should earn really good money ofcourse) primarily because I want to be financially well before doing so.

Should I really start thinking about a possible business opportunity or will my amount I'm getting from an office job be enough to raise a family? At the minimum, how much money should I be netting in a month to raise a family of 4?

We all know that raising a family is really a tough task financially and I want to hear some opinions from you guys (especially from the people who used to have the same thoughts) on what should I do.

[sequoia]

Pag employee ka 30+% ang withholding tax mo.
Pag may negosyo ka, if <1.5M gross sales mo or starting ka pa lang baka VAT exempt ka. So tax mo is 3% sa BIR at 3% sa munisipyo = 6% lang. (correct me if i'm wrong)
Employee: earn->pay taxes->spend
Employer: earn->spend->pay taxes
must read: Rich dad, Poor dad.

why lower tax ng business owner? para mag resign at mag negosyo na lang ang ordinaryong employee!

[oldblue]

you must assess your leadership skills first if you want to become an employer. Bec. employees are assets not an expense.

[VtEC]

will my amount I'm getting from an office job be enough to raise a family? At the minimum, how much money should I be netting in a month to raise a family of 4?

Pag ang nakuha mong partner si gretchen, kulang yang income mo LOL (joke)..Kidding aside, depende sa lifestyle mo yan bro..Kung typical filipino ka, ok na yan for a start plus the salary of your future wife.But once na nagmultiply na kayo, kulang na yan.Opinion ko dyan, average of 75k a month pwede kana.But again, heto nanaman ang tanong, hanggang kailan mag eexist ang company mo?

[jdab]

Pag employee ka 30+% ang withholding tax mo.
Pag may negosyo ka, if <1.5M gross sales mo or starting ka pa lang baka VAT exempt ka. So tax mo is 3% sa BIR at 3% sa munisipyo = 6% lang. (correct me if i'm wrong)
Employee: earn->pay taxes->spend
Employer: earn->spend->pay taxes
must read: Rich dad, Poor dad.

why lower tax ng business owner? para mag resign at mag negosyo na lang ang ordinaryong employee!

Is the gross sales you're referring to on an annual or a monthly basis?

[jdab]

Pag ang nakuha mong partner si gretchen, kulang yang income mo LOL (joke)..Kidding aside, depende sa lifestyle mo yan bro..Kung typical filipino ka, ok na yan for a start plus the salary of your future wife.But once na nagmultiply na kayo, kulang na yan.Opinion ko dyan, average of 75k a month pwede kana.But again, heto nanaman ang tanong, hanggang kailan mag eexist ang company mo?

True. Baka nga hindi pa rin enough ang 75K a month eh. I've heard the news last night that Manny Pacquiao will be spending an average of 500K a year for the tuition of his two kids at Brent. If I also want to send my kids to a prestigious school, hindi magiging enough ang less than 100K a month na salary.

Eh kayo, what's your average income when you started a family and how was your lifestyle then?

Marriage counselor ata ang kailangan ko rito.. hehe

[VtEC]

True. Baka nga hindi pa rin enough ang 75K a month eh. I've heard the news last night that Manny Pacquiao will be spending an average of 500K a year for the tuition of his two kids at Brent. If I also want to send my kids to a prestigious school, hindi magiging enough ang less than 100K a month na salary.

Just what i've said, depende talaga sa lifestyle mo yan bro.Kung sa tingin mo kaya mong mag paaral sa school na kagaya ng brent why not diba.but if not, what's the use on sending your children to a prestigious school if you cant sustain it diba?The most important thing is dika magutom and continuous ang aral ng mga bata.

[sakon]

well for me its better to be an employer why i said so? look if ur an employee
maybe ur earning 50 to 75 k /month but hangang dun n lng un nothing changes plus un nga di mo alam kung until when tatagal ang company mo,but if ur an employer aba syempre ikaw ang boss and u have the chance to make an income kung magkano ang gusto mo depende lng yan sa sipag at effort mo sa bisnes mo ofcourse at makakatulong ka pa sa mga tao for giving them jobs.Kaya nga lng its a fact na not all of us has the chance to be an employer eh kc kailangan din ntin ng employee hehehe d nman pede lahat tyo eh employer kaya swerte ka na kung ikaw ay isang employer... kaya nman HAPPY MOTORING & SAFE TRACKING TO ALLL...____SAKON PA RIN_

[vctradingcubao]

Medyo misleading yung thread title, employer o employee? siempre, unang tingin, who wants to be an employee if you can be your own boss. Pero actually, feeling ko mga bossing, ang hirap mag negosyo ngayon. Ang taas ng cost of doing business (rent, employee compensation, etc.), at pag andun ka na, minsan, lalo mo pa di kontrolado ang oras mo, i.e. you have to work on sundays, 12 hours a day, etc. Also, Iba-iba rin individual characters, meron mga tao na di talaga puede mag business kasi di ma-take na parang inuutusan ng mga customers. Ang Dad ko, OFW, earning very well, nag try mag negosyo dalawang beses, nalugi lang at naubos ang savings kasi nag rely sa employees at partners nya.

One last tip sa gusto mag business, hanggat' maaari, dapat wag na kayo kumuha ng partners, lalo na yung friends at relatives. Solohin nyo na lang, o tulong kayo ng husband/wife nyo, kasi, dami ko na nakita nasira pagkakaibigan dahil sa negosyo. Mas malaki tsansa maging succesful kung solo mo diskarte sa business mo.

p.s. I'm talking 'bout SME's here, not the big corporate business type.

[sequoia]

Is the gross sales you're referring to on an annual or a monthly basis?

annual bro.